SBI Holdings has secured regulatory approval from the Monetary Authority of Singapore (MAS) to acquire a majority stake in Coinhako, a Singapore-based cryptocurrency exchange, according to CoinTelegraph. This marks a significant move for SBI as it expands its presence in Southeast Asia's growing crypto market.
The acquisition positions SBI to strengthen its foothold in the regional digital asset sector, leveraging Coinhako’s established platform and user base. Coinhako is known for its user-friendly services catering to a broad range of crypto investors in Singapore.
For Japanese investors and market participants, SBI’s expansion reflects increasing interest by domestic financial groups in overseas crypto platforms, highlighting a broader trend of globalization within the Japanese crypto ecosystem.